đđAnticipating a potential buying signal, Dogecoin's price is eyeing a target of $0.09, showing signs of bullish momentum as it holds above the descending trendline.
The current trajectory suggests a potential 5% gain, pushing Dogecoin back above the $0.0900 threshold, last reached on Tuesday.
đđShould the price dip below $0.0817 and sustain at that level, it would invalidate the bullish outlook.
On February 14, Dogecoin briefly breached the declining trendline, prompting profit-taking among traders and indicating a premature breakout. Nonetheless, this event instilled confidence in previously hesitant investors, fearing they might miss out on further gains.
đđWith Dogecoin's price poised for a 5% increase as long as it maintains its position above the descending trendline, indicators like the Relative Strength Index (RSI) and the Awesome Oscillator's (AO) histogram bars point towards upward momentum.
đđA breach above the $0.0900 barrier could fuel further gains towards the psychological threshold of $0.1000, provided buyers exhibit strong resolve.
đđConversely, profit-taking actions could drive Dogecoin's price below the descending trendline, potentially triggering a negative cycle. Continued downward pressure may lead to a breach of the $0.0817 support level or even a further decline towards $0.0752.
